Every app and digital tool you use collects data. Many, if not most, freely share that data with third parties and some sell it. Insurers companies and state regulators are sounding the alarm. Some insurers are contacting agents about their concerns. The NAIC Insurance Data Security Model Law, which focuses more attention on the security issues of third-party vendors, has been adopted in eight states with more, perhaps tougher regulations are on the way. In response, agents need to reexamine their privacy policies and make certain they align with the policies of their AND vendors and clients to tighten their data protection efforts and reduce E&O exposure.

At the end of this session, you should be able to:

• Describe the factors driving the new urgency toward security and privacy
• Interpret what the new regulations require
• Identify what to look for the in the security/privacy policies of third-party vendors